When Was Capitalism First Introduced to China? Stats on Labour Cost/Unit

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Discussion Overview

The discussion centers on the introduction of capitalism to China, particularly during the era of Deng Xiaoping in the late 1970s. Participants also seek statistics on labor costs per unit in China compared to the U.S. and Japan, relevant to an economics essay on China's potential as a global economic superpower.

Discussion Character

  • Exploratory
  • Debate/contested
  • Homework-related

Main Points Raised

  • One participant inquires about the specific timing of capitalism's introduction to China, mentioning Deng Xiaoping's role in the 1970s.
  • Another participant cautions about the dependency of China's economy on crude manufacturing and questions the stability of its government structure.
  • A different participant emphasizes China's capitalist zones, cheap labor, and consumer-based economy as significant factors.
  • One suggestion is made to consult the CIA World Factbook for useful information, while noting the difficulty in finding specific statistics on labor costs per unit at a national level.

Areas of Agreement / Disagreement

Participants express varying views on the introduction of capitalism and its implications, with no consensus reached on the specifics of labor cost statistics or the stability of China's government.

Contextual Notes

Participants mention the complexity of economic structures and the challenges in obtaining specific statistics related to labor costs, indicating potential limitations in the data available for macroeconomic comparisons.

student007
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When was capitalism first introduced to communist china? I know that this was done by Deng in the 1970s, but i don't know when.

Furthermore, can anyone find me a link that shows some type of statistic (preferably in chart or graph form) that displays China's low labour cost/unit relative to other countries such as the U.S and Japan? I've looked everywhere! This is for an economics essay I am writing regarding China's potential to become the world's economic superpower, and would just like some strong statistics to proev my point.

Thanx
 
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Be careful if your writing an essay. Note their dependancy on crude and manufactoring and their unstable government structure (i don't know if they have an unstable government, but 'communism' is rather unstable historically).
 
I know - i focusing on the fact that china has capitalist zones, abundant and cheap labour, and a consumer-based economy
 
Check out the CIA world fact book. It has useful information for every country in the world. As for finding statistics for cost/unit you will probably be hard pressed to find this stat for the national economies of the US, China, and Japan etc. since cost/unit is marginal cost-which is usually on discussed on a microeconomic level.
 
student007 said:
When was capitalism first introduced to communist china? I know that this was done by Deng in the 1970s, but i don't know when.

Furthermore, can anyone find me a link that shows some type of statistic (preferably in chart or graph form) that displays China's low labour cost/unit relative to other countries such as the U.S and Japan? I've looked everywhere! This is for an economics essay I am writing regarding China's potential to become the world's economic superpower, and would just like some strong statistics to proev my point.

Thanx

Late 1978.
http://www.odci.gov/cia/publications/factbook/geos/ch.html
 
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